Business
Sentage Holdings Inc. Announces Closing of Initial Public Offering
Shanghai, China, July 13, 2021 (GLOBE NEWSWIRE) -- Sentage Holdings Inc. (the “Company”) (Nasdaq: SNTG), a financial service provider that offers a
About this update from Sentage Holdings Inc.
[{"type":"text","content":"Shanghai, China, July 13, 2021 (GLOBE NEWSWIRE) -- Sentage Holdings Inc. (the “Company”) (Nasdaq: SNTG), a financial service provider that offers a comprehensive range of financial services across consumer loan repayment and collection management, loan recommendation, and prepaid payment network services in China, today announced the closing of its initial public offering (“Offering”) of 4,000,000 ordinary shares at a public offering price of US$5.00 per ordinary share. The Company received aggregate gross proceeds of US$20 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 600,000 ordinary shares at the public offering price, less underwriting discounts. The ordinary shares began trading on the Nasdaq Capital Market on July 9, 2021 under the ticker symbol “SNTG”. Proceeds from the Offering will be used for acquisitions of business entities and operations that are similar to the Company’s, general business operations, to fund its loan recommendation business, prepaid payment network services business, and consumer loan repayment and collection management services business. The Offering was conducted on a firm commitment basis. Network 1 Financial Securities, Inc. acted as the representative of the underwriters for the Offering. Hunter Taubman Fischer & Li LLC acted as counsel to the Company, and Loeb & Loeb LLP acted as counsel to Network 1 Financial Securities, Inc. in connection with the Offering. A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (“SEC”) (File Number: 333-254558) and was declared effective by the SEC on July 8, 2021. The Offering was made only by means of a prospectus, forming a part of the registration statement. Copies of the prospectus relating to the Offering may be obtained from Network 1 Financial Securities, Inc. by email at [email protected], by calling +1 (800)-886-7007, or by standard mail to Network 1 Financial Securities, Inc. 2 Bridge Avenue, Suite 241, Red Bank, NJ 07701. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov. Before you invest, you should read the prospectus and other documents the Company has filed with the S...